Arrow Financial (AROW) director receives 462-share quarterly stock retainer

Rhea-AI Filing Summary

Arrow Financial Corp director Darrin Jahnel reported a routine equity compensation transaction. On March 18, 2026, he had an "other" transaction involving 462 shares of Common Stock at $31.76 per share, labeled as a quarterly director's retainer payment, bringing his direct holdings to 531 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Jahnel Darrin

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	462	$31.76	$15K

Holdings After Transaction: Common Stock — 531 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/20/2026 - 02:10 PM Learn about SEC filing dates

FAQ

What did Arrow Financial Corp (AROW) director Darrin Jahnel report on this Form 4?

Director Darrin Jahnel reported an "other" equity transaction involving 462 shares of Arrow Financial Corp Common Stock. The filing describes this as a quarterly director's retainer payment, a routine form of compensation rather than an open-market purchase or sale.

How many Arrow Financial Corp (AROW) shares were involved in Darrin Jahnel’s transaction?

The Form 4 shows 462 shares of Common Stock were transacted for Darrin Jahnel. This "other" transaction is tied to a quarterly director's retainer payment, reflecting stock-based compensation rather than a typical market trade by the director.

What price per share is shown for Darrin Jahnel’s Arrow Financial Corp (AROW) transaction?

The Form 4 lists a transaction price of $31.76 per share for the 462 Arrow Financial Corp shares. This value is recorded for reporting purposes and accompanies the description of the transaction as a quarterly director's retainer payment.

How many Arrow Financial Corp (AROW) shares does Darrin Jahnel hold after this Form 4 transaction?

After the reported transaction, Darrin Jahnel directly holds 531 shares of Arrow Financial Corp Common Stock. This total reflects the addition from the quarterly director's retainer payment described in the filing as an "other" type transaction.

Is Darrin Jahnel’s Arrow Financial Corp (AROW) Form 4 a buy or sell of shares?

The filing does not classify the event as a buy or sell; it uses code J for "other". The footnote specifies it is a quarterly director's retainer payment, indicating stock-based compensation rather than a discretionary market purchase or sale.

What does the footnote in Darrin Jahnel’s Arrow Financial Corp (AROW) Form 4 explain?

The footnote states "Quarterly Director's Retainer Payment," clarifying the 462-share transaction is compensation for board service. This indicates the event is a routine equity retainer for a director, not an open-market trade intended to change his investment exposure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Jahnel Darrin

(Last) (First) (Middle)

250 GLEN STREET

(Street)

GLENS FALLS NEW YORK 12801

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ARROW FINANCIAL CORP [ AROW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/18/2026		J(1)		462	A	$31.76	531	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Quarterly Director's Retainer Payment

Remarks:

	Penko Ivanov, Attorney in Fact	03/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)